The Greedy Trader Weekly Analysis
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Number of records: 15
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
Hormel Foods Corp.
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Summary:
Weekly :Overbought industryBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtOversold sectorBroken trend resistance line
Daily :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBearish Deliberation CandlestickThe period of high volatility of the stock price
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It was a fifth consecutive positive week for the Hormel Foods Corp. (HRL). During the week, the HRL gained 2.36 points, or 6.86%, and closed at 36.77 on Friday, December 01, 2017. Weekly volume was 67% above average.

HRL is a member of Consumer Goods Sector. Consumer Goods is the second most oversold sector. HRL is a member of Meat Products Industry. Meat Products is the sixth most overbought industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See HRL long-term trend chart]
A long-term downtrend had started on February 16, 2017 at 37.97 and reached 29.75 on October 25, 2017. HRL lost 8.22 points, or 21.65%, in 35 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (28.76) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HRL may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See HRL medium-term trend chart]
A medium-term uptrend had started on October 25, 2017 at 29.75 and reached 36.82 on December 1, 2017. HRL gained -7.07 points, or -23.76%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (32.74) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See HRL weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See HRL short-term trend chart]
A short-term uptrend had started on November 6, 2017 at 30.69 and reached 36.82 on December 1, 2017. HRL gained -6.13 points, or -19.97%, in 25 days. Price is near the trend high.

Daily Technical Indicators: [See HRL daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since October 31, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

The distance between the Bollinger Bands is 145.23% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See HRL candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 88.95
Overbought
Williams' Percentage Range (W%R) 5.40
Strong Overbought
Lane's Stochastic (%D-Slow) 81.11
Overbought
Greed/Fear Indicator (GFI) 88.22
Overbought
Moving Average Converg./Diverg. (MACD) 0.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.89
Williams' Percentage Range (W%R) 4.70
Strong Overbought
Lane's Stochastic (%D-Slow) 76.48
Greed/Fear Indicator (GFI) 79.08
Moving Average Converg./Diverg. (MACD) -0.74
Trading Signals
Description Value Chart
Upper Bollinger Band 37.09
Price 36.77
Daily Stochastic Crossing 36.47
Weekly Stochastic Crossing 35.74
Monthly Trendline Resistance 35.66
Parabolic System 34.20
20 Day Moving Average 33.46
Monthly Trendline Support 32.74
50 Day Moving Average 32.15
Quarterly Trendline Resistance 30.57
Lower Bollinger Band 30.55
Sector and Industry
Description Name Rank
Sector Consumer Goods 2
Industry Meat Products 158
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 30.69
Low Date 11/06/2017
High 36.82
High Date 12/01/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.69
Low Date 11/06/2017
High 36.82
High Date 12/01/2017
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 35.66
Support 32.74
Low 29.75
Low Date 10/25/2017
High 36.82
High Date 12/01/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 30.57
Support 28.76
High 37.97
High Date 02/16/2017
Low 29.75
Low Date 10/25/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.72
High Date 02/16/2016
Low 29.75
Low Date 10/25/2017
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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